You can get quality elder care but be prepared to pay for it

Personal Finance


Conversely, some states have low costs but their quality is lacking. For example, Alabama has the least-expensive care but ranks 44th for quality. Additionally, the Northeast showed generally higher costs and lower quality scores in the report.

The study used various statistics including nursing home costs, in-home care prices and elderly well-being assessments to arrive at its rankings. First overall is Utah, followed by Iowa, South Carolina, Washington and Nebraska. The bottom five include Wyoming, North Dakota, New York, Indiana and West Virginia.

The differences in cost for various services can be stark. For instance, the average annual cost of nursing home care in Alaska is $281,415 compared with $63,875 in Utah, according to a 2015 study by Genworth Financial.

Sullivan said that given the varying levels of quality and care offered across the country, it’s important to start giving thought to options long before elder care services are needed.



Source link

Products You May Like

Articles You May Like

Nvidia (NVDA) earnings Q4 2021
Lowe’s (LOW) earnings Q4 2020 beats estimates
How to give to a charity crowdfunding drive without getting scammed
25 highest paid hedge fund managers earned record-setting $32 billion in 2020
4 time-tested tips for explaining money to children

Leave a Reply

Your email address will not be published. Required fields are marked *